Deepak (Financial Analyst ) (27 Points)
24 May 2021Hi
My client received IT Notice asking for details of Pl account & Balance Sheet.
He is in the business in Insurance & Mediclaim advisor.
He is having bungalow at his native place costing Rs. 5 lac.
My question is, Is he required to show this in his Balance Sheet? If yes under which head?
Thanks in advance.
Jay Chichani
(131 Points)
Replied 24 May 2021
sabyasachi mukherjee
(25973 Points)
Replied 24 May 2021
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 24 May 2021
Question is not clear
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 24 May 2021
Has the assessee opted for 44AD? For commission income, 44AD cannot be opted.
Sivaramaraju G
(Learner)
(2398 Points)
Replied 24 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 24 May 2021
veerendar singh
(tax consultant)
(3301 Points)
Replied 24 May 2021
sabyasachi mukherjee
(25973 Points)
Replied 25 May 2021
What is his annual income?
According to the CATEGORY of income he will hv to choose his itr form and file returns.
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